Main menu

Post navigation

Post-Recession Shift in Home-Buying Market

Lang Realty Releases Palm Beach County Real Estate Update

The housing market has faced serious difficulties since the wake of the recession, but it seems that the storm has finally begun to clear. And if there’s anything to be learned from nature, its that destruction breeds creation, and the cycle of life begins anew.

What does this mean for a prospective home buyer? The post-recession recovery is leading to a boom, in which buying up foreclosed properties has become a valuable investment opportunity.

Today’s home buyers in Palm Beach County are seeing inventory tightening up and demand becoming higher. “For six years we have seen no new building in our area and essentially the demand caught up. Any foreclosures are being scooped by investors and there is more demand than supply” remarks Lang Realty President, Scott Agran.

Lang Realty is a local South Florida real estate based in Palm Beach county that monitors real-time real estate market data and home pricing and selling trends.

With inventory shrinking, the early adapters which represent 20 to 25% of the market understand now is a time to buy a home. The fact that mortgage rates are at their lowest in years is also helping to fuel this upward trend among this group. State data shows that Palm Beach County’s median sales price for an existing single-family home lifted to $197,000 in March, a 6 percent increase from February driven in part by depleted inventory and voracious investors.

Benefits of Home Investing in Today’s Market

Unlike buyers of the last few decades, today’s new homeowner does not have to succumb to purchasing a property during an age of dwindling property values.

The buyer’s market is now significantly more optimistic then it has been in years. Appraisals match the decided upon purchase rate and interest rates for mortgages are affordably low. Even existing homeowners currently bogged down by a pre-existing mortgage now have the opportunity to sell without having to accept a loss.

The struggling homeowners who managed to bear through the worst and hold off on foreclosure or a short sale during the peak of the recession, now is the best opportunity to sell their current place and free themselves of “unsustainable mortgage obligations.”

Buying a House in Palm Beach County?

Are you in the market for a new property in Palm Beach county? Consider Lang Realty for all your real estate needs! Lang Realty offers a thorough, comprehensive approach to buying or selling luxury real estate in Palm Beach, Broward, and St. Lucie county. Their featured listings include properties in Jupiter, Port Saint Lucie, Highland Beach, Wellington, and West Palm.

This guest post has been provided courtesy of Lang Realty. Lang Realty has eight office locations throughout Palm Beach County and the Treasure Coast. Please visit LangRealty.com for more information.

Testimonials

"Your crew was a pleasure to have in our home. The work performed was done quietly, they cleaned up behind themselves and explained every aspect of the required service. We would not hesitate to suggest your firm to any of our neighbors whom are unhappy with the quality of the air in their home and admit that they have not had their ducts cleaned for some period of time."

John Schlossberg

"It is my pleasure to write to you and let you know that I appreciated your company's service today. Both A/C technicians did such a great job, and they were very helpful! Their knowledge, professionalism, and thoroughness were apparent and I would certainly recommend them and USA Air to others. Thank you!"

Dr. Donna N.

"These guys came out to my house a few days ago to fix my unit. To start off, they showed up right when they said they would. I liked using these guys so much i might just have them clean my air ducts next week. The guy had some very good points about dirty air ducts that have caused me to do some research."